Aloro Provides Update on Drilling at Los Venados and Planning Follow Up Drill Program

February 5, 2019

ALORO MINING CORP. - (the “Company” or “Aloro”) is pleased to provide an update from its recently completed Reverse Circulation (RC) drill program on the Company’s Los Venados gold Project. Aloro completed 12 RC drill holes for a total 1,747 meters drilled. All drill holes intercepted high sulphidation type alteration and mineralization.

The recent drill program was designed to test the felsic dome complex located 1500m northwest of the active Alamos Gold Inc. Estrella Pit, exploring for high-grade Escondida-type gold mineralization. A gold-mineralized rhyolitic dike was intercepted that is inferred to be a feeder to the blind and intact dome complexes further to the southeast.

Aloro’s drilling intercepted numerous intervals of low-grade high sulphidation gold. Drill holes LVRC001-011 were focused on the soil gold anomaly associated with the outcropping felsic dome complex. The thickest intercept was in LVRC-1 with 18.3 meters of 0.2 gpt. Au. LVRC-005 had an interval consisting of 3.05 meters with 1.45 gpt. Au.

Drilling results from the dome complex drill holes indicate a southeast-directed vector toward increasing alteration and mineralization, which was tested by drill hole LVRC-012. The hole cut 32m of blind strong silicic alteration with brecciated vuggy silica and sulfides containing the best gold intercept of 4.57 meters of 1.72 gpt Au. The intercept is interpreted to be at the margin of concealed felsic dome similar to that hosting high-grade mineralization in the Escondida zone 1300m to the east, and warrants further drilling.

Technical advisor Ken Balleweg, P. Geo, who managed the discovery and ore control of the high-grade Escondida zone states: “The style of mineralization in LVRC012, particularly the coarse vuggy nature with crystalline quartz, octahedral pyrite, and tetrahedrite, strongly resembles that of the Escondida high-grade deposit, which was distinctly different from the main Mulatos style of mineralization. As this style of mineralization is unique and was both within and proximal to the high-grade deposit, the intercept of similar alteration in a previously undrilled area is significant and warrants additional step-out holes.”

The Aloro geological team is currently doing extensive mapping and sampling in the southeastern portion of the Los Venados concession based on the LVRC-012 results. The Company is currently making arrangements to drill additional holes as soon as possible to test a 1000 meter-long target area up-dip and north of LVRC-012.

Drill results using a 0.14 gpt cutoff:

Drill hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Ag (g/t)

LVRC-001

10.67

28.96

18.29

0.199

2.2

LVRC-002

0.00

13.72

13.72

0.142

3.3

LVRC-002

56.39

60.96

4.57

0.150

1.9

LVRC-003

27.43

44.20

16.76

0.149

3.3

LVRC-004

73.15

76.20

3.05

0.243

22.9

LVRC-005

36.58

47.24

10.67

0.517

1.7

Includes

3.05

1.455

1.4

LVRC-005

51.82

59.44

7.62

0.165

3.1

LVRC-005

62.48

70.10

7.62

0.191

10.0

LVRC-006

6.10

10.67

4.57

0.219

10.6

LVRC-006

33.53

35.05

1.52

0.697

1.3

LVRC-007

70.10

74.68

4.58

0.141

0.5

LVRC-008

108.20

117.35

9.15

0.215

1.6

LVRC-008

135.64

143.26

7.62

0.153

1.2

LVRC-009

99.06

102.11

3.05

0.182

<0.5

LVRC-012

254.51

262.13

7.62

1.131

32.3

Includes

4.57

1.722

50.2

LVRC-012

272.80

275.84

3.04

0.197

2.7

Thomas A. Doyle, President, CEO, stated “We are pleased to have obtained gold and alteration intercepts in the drilling that has directed us to a high-grade gold target in southeastern part of the Los Venados concession area. The near-term plan is to get the drill back out to the property and follow up on what we have learned from drill hole #12.”

Melvin A. Herdrick, P. Geo, a qualified person under NI 43-101, has reviewed and verified the technical content and data disclosed in this press release. Mr. Herdrick verified the data by supervising the onsite drilling and sample collection.

Drill samples were collected with an airstream cyclone and passed into a splitter that divides each sample into quarters. The quartered samples are then bagged and sealed with identification. The sample group has blanks, standards and duplicates inserted into the sample stream. ALS-Chemex picked up the samples and transported them directly to the preparation laboratory in Hermosillo, Sonora.

At the laboratory, part of each sample is reduced through crushing, splitting and pulverization, from which 150 grams are sent to the ALS-Chemex assay laboratory in Vancouver and 30 grams undergoes fire assay for gold whereby the resulting concentrated button of material is dissolved, and the gold content is determined by atomic absorption. Another quantity of the sample is dissolved in four acids for an ICP multi-element analysis.

About Aloro Mining Corp.

Aloro controls the 3,199 hectare Los Venados Project, which is located in the central part of the Mulatos Gold District. The western property boundary is shared with Agnico Eagle Mines Limited where it operates the La India open pit mine, and it is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. The known mineralization within the Mulatos District is gold-dominant, with accessory silver and copper.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.